NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired
securities of MagnaChip Semiconductor Corporation (NYSE: MX) between
February 1, 2012 and February 12, 2015.

You are hereby notified that a securities class action lawsuit
has been commenced in the USDC for the Northern District of California.
If you purchased or otherwise acquired MagnaChip Semiconductor
Corporation (“MagnaChip”) securities between February 1, 2012 and
February 12, 2015, your rights may be affected by this
action. To get more information go to:

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There
is no cost or obligation to you.

The complaint alleges that MagnaChip failed to disclose that it
improperly recognized revenues, resulting in the overstatement of
revenues and earnings in financial statements from 2011, 2012, and the
first nine months of 2013. As a result of the aforementioned, MagnaChip
traded at artificially inflated prices, allowing controlling shareholder
Avenue Capital Management II, L.P. to sell more than 16.1 million shares
in secondary stock offerings for $232.675 million in gross proceeds.

On February 12, 2015, the Company filed its Annual Report on Form 10-K
for the fiscal year ended December 31, 2013, restating its financial
results for fiscal years 2011, 2012, and the first three quarters of
2013. On April 1, 2015, the Company received notice from NYSE that it is
no longer compliant with listing requirements.

If you suffered a loss in MagnaChip you have until June
22, 2015to request that the Court appoint you as lead
plaintiff. Your ability to share in any recovery doesn’t require that
you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New
Jersey, Connecticut and Washington D.C. The firm’s attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior results
do not guarantee similar outcomes.